News
GE Capital finances 21-unit Jack in the Box refranchising
June 2, 2010
GE Capital, Franchise Finance is providing $23.5 million in financing to multi-brand franchisee MarLu, a multi-concept franchisee group and management company based in Sacramento, Calif. The facility will refinance existing stores; fund the acquisition of 21 Jack in the Box units in Sacramento, Modesto and Los Banos, Calif.; and create a line of credit for future development needs. Financing was provided through GE Capital, Franchise Finance's bank affiliate, GE Capital Financial Inc.
"This is our first financing with MarLu," said Chris Poppe, vice president of GE Capital, in a news release. "We hope to expand our relationship with them as they grow and broaden the restaurant concepts they manage."
In addition to the recent acquisition of Jack in the Box corporate stores, MarLu is the third largest Church's Chicken domestic franchisee, with 46 restaurants. MarLu also owns and operates two Arby's and two Little Caesars Pizza's restaurants with two more opening in the third quarter.
MarLu operates units in California, Arizona, Nevada, and Texas, and has a focus on providing great customer experience while empowering local management to operate efficiently, grow sales and improve profitability.
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